Property boom observed around the world post financial crisis and being stimulated by low interest rates resulted in situation where local citizens cannot find money to buy a house, Bloomberg reports. Governments of many countries blame foreign buyers for price increases and take steps to limit foreign investments.

Wave of restrictions or taxes already went from Sydney to Hong Kong and Vancouver. Measures aimed to restrict foreign investors include stamp duties, restrictions on sales to non-residents or limits on type of houses that they can buy.

New Zealand banned purchases of existing residential real estate by foreigners. Canada and Australia are introducing one restriction after another. Singapore imposed taxes on buyers from abroad. Some limits exist in Denmark and Switzerland.

Malaysia worries that foreign investments into real estate do not benefit country, alike from tourism, as well as direct investments aimed at technology transfer, creating new jobs or development of new sectors of economy.

It shall be noted that there are not a lot of evidences that foreign investors caused price growth in global property markets. About 60% of residents in Sydney blame foreign investment for price increases. However, research by Australian Treasury showed that they have very little influence. Research of data at New Zealand’s property market gave the same results.